Today, a report released by the Mortgage Settlement Monitor confirmed that big banks are still not up to the task of handling mortgage modifications effectively and fairly. This report confirms what many working families have learned the hard way: Big banks are still giving homeowners the runaround.

The ink has barely dried on new rules to protect working people from predatory mortgage lenders and the big bankers’ friends in Congress are already making moves to try to roll back protections. Tomorrow, a House hearing is scheduled to consider proposals to roll back protections against predatory mortgages.

To protect consumers from the types of predatory lending that led to the housing crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 included the commonsense requirement that mortgage lenders consider a borrower’s ability to repay when issuing a mortgage.

Wall Street wrecked the economy, and banks are still refusing to work with people who are trying to stay in their homes. The Campaign for a Fair Settlement, along with other partners, is calling on President Obama to champion an agenda that would:

Wall Street wrecked the economy and banks still are refusing to work with people who are trying to stay in their homes. The Campaign for a Fair Settlement, along with other partners, is calling on President Obama over the next 100 days to champion an agenda that would:

A growing chorus of voices across the country is calling for President Obama to replace the acting director of Federal Housing Finance Agency (FHFA), Edward J. DeMarco. DeMarco, a holdover from the Bush administration, is responsible for overseeing Fannie Mae and Freddie Mac. President Obama’s nominee to replace him in 2010 was blocked by Republicans.

Federal Housing Finance Agency Acting Director Edward DeMarco is denying relief to as many as half a million struggling homeowners by refusing to allow Fannie Mae and Freddie Mac to engage in principal reduction, AFL-CIO President Richard Trumka said Tuesday. Trumka's comments came after DeMarco announced he will continue to prohibit Fannie Mae and Freddie Mac from participating in the Obama Administration’s mortgage principal reduction program. Read the rest of Trumka's statement here.

Earlier this year, state and federal law enforcement officials negotiated a historic legal settlement with the Big Banks that had abused the rights of homeowners during the foreclosure crisis. As part of this settlement, the Big Banks agreed to pay $2.5 billion in penalties to the states for programs to help prevent foreclosures.

Sadly, in many states these funds are now at risk of being diverted away from helping struggling homeowners.

The $25 billion foreclosure settlement with five of the nation’s biggest banks, announced this morning by federal and state officials, is a “step in addressing the housing and foreclosure crisis that plagues our country,” says AFL-CIO President Richard Trumka.

AFL-CIO President Richard Trumka is urging the Justice Department to lead a comprehensive investigation with state attorneys general to prevent banks from engaging in future unlawful and deceptive practices that could exploit homeowners and put the economy further at risk. From Trumka: